Samba Financial Group’s board of directors recommended on Tuesday a 66.7 percent capital raise from SAR 12 billion to SAR 20 billion through the issuance of bonus shares.
The capital raise will take place by issuing two bonus shares to each three shares.
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Capital Raise Details |
|
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SAR 12 bln |
Current capital |
|
1,200 mln shares |
Number of shares |
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66.7% ( two shares for every three shares) |
Capital raise percentage |
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SAR 20 bln |
New capital |
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2,000 mln shares |
Number of Shares after raise |
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Extraordinary General Assembly day |
Record date |
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Determined later |
Payment date |
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Expand company’s investments |
Purpose of capital raise |
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